{"id":3967,"date":"2024-07-30T01:30:11","date_gmt":"2024-07-30T01:30:11","guid":{"rendered":"https:\/\/cryptd.in\/dogecoin-ready-for-0-3-analysts-bullish-on-doge-price-breakout-attempt\/"},"modified":"2024-07-30T01:30:11","modified_gmt":"2024-07-30T01:30:11","slug":"dogecoin-ready-for-0-3-analysts-bullish-on-doge-price-breakout-attempt","status":"publish","type":"post","link":"https:\/\/cryptd.in\/ko\/dogecoin-ready-for-0-3-analysts-bullish-on-doge-price-breakout-attempt\/","title":{"rendered":"Dogecoin Ready For $0.3? Analysts Bullish On DOGE Price Breakout Attempt"},"content":{"rendered":"

Over the weekend, Dogecoin (DOGE) soared 11% after the general market performance. The price surge led the dog-themed token to retest key resistance levels, which fueled a bullish prediction by crypto analysts. Investors also shared a positive sentiment following Elon Musk\u2019s recent comments regarding cryptocurrencies and the largest memecoin by market capitalization.<\/p>\n

Dogecoin Attempts To Break Above Key Level<\/h2>\n

During the past week, market watchers have revealed their bullish predictions for the largest memecoin by market cap. Daan Crypto Trades revealed that DOGE was \u201cshowing some strength\u201d after trading above the daily 200 MA\/EMA last week and testing a multi-month diagonal trendline.<\/p>\n

DOGE attempted to break out of the downtrend line again after trading above the $0.134 resistance level in the early hours of Monday. To Daan, Dogecoin\u2019s price could see \u201chigher over the next couple of weeks\u201d if it holds on to the $0.13 area.<\/p>\n

Similarly, analyst Crypto Poseidon pointed out that DOGE\u2019s \u201cdaily ema50-200 started to squeeze into each other again.\u201d Per the analyst, this will lead<\/a> to an expansion above the previous yearly high of $0.22. Poseidon added, \u201c$0.3 on the horizon, dog lovers.\u201d<\/p>\n

Amid the market recovery, renowned crypto analyst Ali Martinez revealed<\/a> on Thursday that Dogecoin was playing the same pattern it has displayed before. According to this pattern, DOGE consolidates in a descending triangle.<\/p>\n

During the consolidation, the memecoin historically sees a 140%-230% rally before retracing around 60%. Per the analyst, DOGE investors should \u201cjust wait\u201d as the memecoin enters the bull run after the retrace.<\/p>\n

As of this writing, Dogecoin is hovering between the $0.129 and $0.130 price range, a 0.5% drop in the last 24 hours. However, this performance represents a 7.6% and 5.3% price surge in the biweekly and monthly timeframes.<\/p>\n

Elon Musk Won\u2019t Promote Crypto But Has \u2018Soft Spot\u2019 For DOGE<\/h2>\n

On Sunday, Tesla\u2019s CEO Elon Musk joined<\/a> The X Takeover event hosted by the Tesla Owners Silicon Valley club. Musk made a special virtual guest appearance to discuss his insights on technology, space exploration, sustainability, and cryptocurrencies.<\/p>\n

During his appearance, the CEO clarified he would not promote crypto, but might address them jokingly<\/a> in the future. He also stated he doesn\u2019t have a negative opinion about cryptocurrencies despite his refusal to endorse them.<\/p>\n

Musk explained that certain crypto assets, including Bitcoin (BTC), have merit in his eyes, but investors won\u2019t see him pumping them. However, the billionaire added that he got a fondness for Dogecoin due to his liking of dogs and memes.<\/p>\n

I\u2019m not going to be promoting crypto\u2014at most, in a joking way. If you see me pumping crypto, it\u2019s not me. I do think there\u2019s merit in Bitcoin and maybe some other cryptos, and I\u2019ve sort of got a soft spot for Dogecoin because I like dogs and memes.<\/p>\n

The DOGE community had a mixed reaction to Musk\u2019s remarks. Some investors consider the comments bad news for Dogecoin and its holders as it meant he no longer supported<\/a> the memecoin\u2019s adoption. \u201cI guess putting Doge on the Moon is not a real thing he\u2019s considering anymore,\u201d one reply read<\/a>.<\/p>\n

Others believe his crypto stance clarification was necessary as some would \u201cthink he said he\u2019s against crypto which is not true.\u201d Additionally, many investors considered that his liking for DOGE was bullish<\/a> for the memecoin.<\/p>\n

Following the news, the largest cryptocurrency by market cap saw an 8% price increase, going from the $0.1204 to the $0.1355 range overnight.<\/p>","protected":false},"excerpt":{"rendered":"

Over the weekend, Dogecoin (DOGE) soared 11% after the general market performance. The price surge led the dog-themed token to retest key resistance levels, which fueled a bullish prediction by crypto analysts. Investors also shared a positive sentiment following Elon Musk\u2019s recent comments regarding cryptocurrencies and the largest memecoin by market capitalization. Dogecoin Attempts To […]<\/p>\n","protected":false},"author":0,"featured_media":3968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nDogecoin Ready For $0.3? Analysts Bullish On DOGE Price Breakout Attempt - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/ko\/dogecoin-ready-for-0-3-analysts-bullish-on-doge-price-breakout-attempt\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin Ready For $0.3? Analysts Bullish On DOGE Price Breakout Attempt - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Over the weekend, Dogecoin (DOGE) soared 11% after the general market performance. The price surge led the dog-themed token to retest key resistance levels, which fueled a bullish prediction by crypto analysts. Investors also shared a positive sentiment following Elon Musk\u2019s recent comments regarding cryptocurrencies and the largest memecoin by market capitalization. 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